If you haven't noticed yet, Europe is now again contracting. GDP has been negative since 2012 (Chart 1). And the PMI is also contracting, which means the negative GDP will become even more negative going forward.
Europe is going into a depression, and this time it's for real, just like in 2008.
Meanwhile, nothing problematic has been reported in the United States. The PMI there is still above 50 (53.4). US GDP is still projected to grow in the future. But I suspect that America won't be immune to the European collapse.